Uchumi of Kenya Begins Talks With New Equity Investor
Supermarket chain in talks with a new potential investor after discussions with another New York-based private-equity firm fell through, Business Daily reports, citing unidentified sources.
* New investor to conduct due diligence in 120 days and make decision;
* NOTE: Dec. 14, Uchumi Kenya Expects 3.5b Shillings From Investor Mid-January;
* NOTE: Dec 6, Uchumi Kenya CEO Kipng’etich Resigns; Mohamed Named Acting CEO;
* NOTE: July 20, Kenyan Treasury to Sell Its Stake in Uchumi Supermarkets: Daily. Source: Bloomberg